I wanted to share the exciting news for the Ontario automotive sector that went public just before the holiday.¬ Ontario government allocated $40 million to transform the provincial automotive industry. The Future of Ontario’s Automotive Sector Initiative will include the following streams.
The¬ Ontario Automotive Modernization Program (O-AMP)¬†to assist automotive parts suppliers to become more productive, innovative and export-focused through the adoption of technology. O-AMP builds off the¬ Automotive Supplier Competitiveness Improvement Program (ASCIP)¬†that currently provides up to $100,000 in non-repayable government funding to the Ontario, automotive industry suppliers.
Other streams include the funding for¬ skills training, learning, internships and apprenticeship. Last but not least, the funding is allocated for¬†industry-driven autonomous vehicle¬ research & development.
Stay tuned for further updates as the details of the programs will unfold in the next few weeks. In the meantime,¬ check the eligibility of your business for government funding now. Even if you are not in the automotive sector, there are many funding programs your business may qualify for.